CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California

Centers Business Management (CBM) leasing agent, Barry Bussiere, recently completed a lease transaction representing the landlord and tenant, 1 Stop Wireless, an expanding cell phone sales + service provider, on a 1,200 SQFT retail space. The unit is situated in 7-Eleven anchored corner strip center at the intersection of Lincoln and Denni in prime Cypress.

Centers Business Management (CBM) Valley Leasing Director, Dave O’Connell, recently completed a lease transaction representing the landlord in a deal with US Renal Care Dialysis Center on a 5,000 SQFT retail space. The unit is situated in large, a regional shopping center on Los Angeles Avenue, between First and Erringer, in prime Simi Valley. The heavily-trafficked center is anchored by Vallarta Supermarket and Simi Valley 10 Cinemas, both strong consumer draws.

Centers Business Management (CBM) property manager, Pamela Ozell, recently completed a lease transaction representing landlord and tenant, Boost Mobile, an expanding cell phone sales + service provider, on a 900 SQFT space. The unit is situated in sizeable community shopping center at the intersection of Rosecrans and Studebaker in prime Norwalk. The newer, well-maintained property features A+ co-tenants, including McDonalds, Starbucks, Sketchers, Little Caesars Pizza, and Rent-a-Center.

Recent CBM leasing transaction featured in the July 24, 2017 edition of the Los Angeles Business Journal…

CBM leasing agent, Jason Ehrenpreis, recently completed a new 5-year lease with Bassett Beauty Solutions, an expanding beauty supply retailer. The tenant is occuping a 1,040 SQFT unit in a shopping center at the intersection of Santa Monica + Crescent Heights in West Hollywood.

Ever notice how one shopping center thrives, while another, very similar shopping center, drowns in vacancies?

Similar location, similar demographics, even similar leases rates. But one center is consistently profitable, with little or no vacancy. And the other is constantly struggling to fill two or three perpetually empty spaces.

What separates these two properties? What’s the differentiating factor?

Tenant Synergy

What is Tenant Synergy?

Try to imagine your shopping center through the eyes of your tenant’s patrons. When they arrive at your shopping center, why are they there? What do the need?
For example sake, here are a couple of quick scenarios…

Typical Neighborhood Center in Middle-Class Community

Let’s say a guy needs to have his dog groomed…

-He drops Fido off at the groomers.

-With some time to kill, he stops by the medical marijuana dispensary.

-After picking up his “prescription,” he’s feeling a bit hungry, and orders a turkey and Swiss cheese sandwich at the quick-serve sandwich shop.

Or let’s say women needs a manicure…

-After work she stops into the nail salon and has a mani/pedi

-Nobody cooks anymore, so after the nail salon, she picks up Chinese take-out for the evening’s family dinner.

-And what’s dinner without a little libation? So she grabs some beer and wine at the mini-market to go with the take-out.

Neighborhood Center in Lower Income or Predominately Hispanic Area

Let’s say a domestic worker needs to cash a check, take her son and daughter to the dentist, and pick up a few items for dinner…

-She stops by the Check Casher and cashes her paycheck.

-Drops the two kids at the dentist for a check-up.

-And picks up a few grocery items at the mini-market before they all head home

Or an independent contractor handling landscaping or construction work needs to get a loan for ready cash in advance of his next pay check, and then pick up dinner or basic groceries for his family…

– He stops at the Payday Loan and arranges a quick short term cash loan

-Orders dinner to go from the taqueria

-Picks up milk + bread from the mini-mart

Right Tenant Mix Serving the Right Community

Tenant synergy is borne out of a complementary tenant mix serving the surrounding community’s needs.

And assembling this kind of tenant mix in your shopping center is exactly what will keep it fully leased and financially productive.

So How Can Professional Leasing Establish Synergy in Your Shopping Center?

As a landlord, you may be aware of how complementary tenant uses contribute to the productivity of your property. The concept is fairly intuitive.

But when a tenant vacates your center, how quickly does the ideal replacement occur to you?

And even if an ideal replacement does immediately come to mind, how well are you connected with suitable tenants, or tenant rep brokers, to fill that vacancy?

Leveraging Contacts + Connections

A professional retail leasing agent speaks to hundreds of prospective tenants and highly active tenant rep brokers every week. That’s thousands of conversations a month. All of which revolve around a particular type of tenant seeking a space in a specific area.

And a consistent percentage of those conversations result in executed leases.

In other words, a professional retail leasing agent knows which types of tenants are seeking space in what areas, and can funnel those tenants into corresponding vacancies.

And if the agent is representing your property, that means they’re funneling said tenants into your vacancy.

Find Out More About CBM’s Retail Leasing Services

Visit our Leasing Services page and find out more about how CBM professional retail leasing services can fill your vacancies with complimentary tenants – and create synergy in your shopping center.

Northridge, CA – July 2017, Centers Business Management (CBM) completes new ground leasing transaction with expanding East Coast-based donut shop franchise.

CBM leasing agent + property manager, Eric Kalfa, recently completed a new 10-year ground lease with Dunkin Donuts (an East Coast based donut shop franchise currently pursuing massive West Coast expansion) in a freestanding retail building at the intersection of Reseda Boulevard and Vincennes Street in Northridge, CA. The Dunkin Donuts shop, leased by franchisees, Madison Food Management, will occupy a completely remodeled 2,900 SQFT store adjacent to the Cal State Northridge campus and the Valley Performing Arts Center. Additionally, the new location just celebrated its official grand opening!

Dunkin Donuts, a publicly traded company (NASDAQ: DNKN,) operates 11,000 stores worldwide, and 7,700 in the US. This East Coast-based chain began its California expansion in 2014 and has since open highly successful Southern California stores in Long Beach, Santa Monica, Hollywood and East LA’s Atwater Village. Dunkin plans to open 1,000 stores in California over the next decade, including 200+ in SoCal. And many of those locations will be launched with franchising partners, like Madison Food Management, a successful Los Angeles area fast food franchising enterprise.

“When I took over as property manager of the site, it was car stereo installation business, and clearly not the property’s highest and best use, ” says Encino leasing agent + property manager, Eric Kalfa. “When the car stereo tenant’s lease expired, I convinced the landlord to bring the site to market, which prompted multiple offers. Popeye’s [chicken], Coffee Bean & Tea Leaf, and Dunkin Donuts were all clamoring for the site and each submitted a strong offer,” Kalfa notes in reference to the property’s high demand, driven largely by its proximity to nearby Cal State Northridge University.

The landlord also had a unique stipulation in this deal, requesting the property be let on ground lease. “Negotiating and drafting ground leases is a complicated and tricky process. And not many leasing agents possess the knowledge and expertise to make this kind of deal happen,” Kalfa adds regarding the difficulty in structuring ground lease transactions.

“Dunkin Donuts has promised massive expansion, and we hope this, in addition to another site we leased to Dunkin at Glendale and Glenhurst in Atwater Village, are just the first of many deals wit the company and its franchisees,” Says CBM President, Rick Rivera. “And considering many of the shopping center and street retail sites CBM represents are an ideal fit for Dunkin, we’re confident that will happen,” Rivera notes in anticipation of completing future transactions with the expansion-minded Dunkin Donuts.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | rickr@cbm1.com.


As most of you already know, this year’s ICSC Western Division Conferences will be held at the LA Convention Center in Downtown Los Angeles.

Bye-bye San Diego, it was TOO fun while it lasted! But alas, things change…

And this is a pretty big change… New city… New venue… New bars + party spots ;—)…

But one thing HAS NOT changed… Our outstanding location on the convention floor!

As convention hall floor plan above illustrates, we’re positioned on a prime end-cap at one the convention’s main entrances == > Booth 1003

The event doesn’t arrive until October 2nd, and there will be more updates to follow. But we just wanted to let you in on the good news!

Costa Mesa, CA – July 2017, Centers Business Management (CBM) completes new leasing transaction with expanding area fitness training studio.

CBM leasing agent, Jason Ehrenpreis, recently completed a new 8-year lease with Total Training fitness studio in a street retail property on busy Newport Boulevard in Costa Mesa, CA. Total Training is occupying a 3,006 SQFT space in an architecturally distinct building that also currently hosts Shoe City, a successful alethic shoe store chain.

Total Training is an Orange County, CA based fitness training business. Total Training’s signature product is “High-Intensity Interval Training” (H.I.I.T). This is a specialized, highly focused form of cross training. The company currently operates two fitness studios — their first in Laguna Hills, and their new location in Costa Mesa.

“This is a great location, with tons of visibility, right off the 55 Freeway in prime Costa Mesa,” says Jason Ehrenpreis of the property’s impeccable positioning. “And the co-tenancy with Shoe City, which is rapidly expanding in SoCal, is a perfect fit. Physical training + athletic shoes – It’s ‘can’t miss’ pairing!” Ehrenpreis adds extolling the virtues of the Total Training’s precision synergy with existing tenant, Shoe City.

“Gyms, fitness studios and personal training are all thriving retail uses currently. And we’re seeing more and more deals with tenant-type” says CBM President, Rick Rivera. “And the rising deal volume in the fitness trade is unsurprising considering that exercise and personal training is NOT something you can ‘buy online,’” Rivera adds noting retail real estate’s continued shift toward services oriented businesses.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201.


West Hollywood, CA – July 2017, Centers Business Management (CBM) completes new leasing transaction with successful beauty supply retailer.

CBM leasing agent, Jason Ehrenpreis, recently completed a new 5-year lease with Bassett Beauty Solutions, an expanding beauty supply retailer, in a West Hollywood, CA shopping center. Bassett Beauty Solutions is occupying 1,040 SQFT space in a well-patronized community shopping center on busy Santa Monica Boulevard, at the intersection of Crescent Heights Avenue, in the heart of West Hollywood’s thriving retail trade district.

Founded by long-time beauty-industry professionals, Christina + Ward Bassett, Bassett Beauty Solutions specializes in supplying licensed stylists + cosmeticians with professional grade products. The business has steadily expanded over the past decade and currently operates five stores. Three in Southern California, including the West Hollywood location, Orange County, and San Diego, in addition to a Northern California outlet in Sacramento, and an out-of-state location in Scottsdale, Arizona.

“This is one of the busiest intersections in West Hollywood, with countless trendy restaurants and bars nearby,” says Jason Ehrenpreis of the property’s top-tier location in prime West Hollywood. “The store is perfectly located given the growing number of salons + skin care treatment oriented business in the area,” Ehrenpreis adds referencing the myriad hair and beauty salons that line Santa Monica Boulevard its pathway through the heart of West Hollywood.

“Hair and beauty salons, as well as skin care and days spas, continue to thrive” states CBM President, Rick Rivera. “We consistently lease a sizable number of spaces to these types of businesses year in and year out,” Rivera says of the beauty related industry’s sustained success in retail.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201.


West Los Angeles, CA – July 2017, Centers Business Management (CBM) completes new leasing transaction with expanding gadget repair business.

CBM leasing agent, Jason Ehrenpreis, recently completed a new 5-year lease with West LA iPhone Repair, an expanding tech repair service provider, in Westwood, CA. West LA iPhone Repair is occupying a 540 SQFT space in a busy neighborhood shopping at the heavily-trafficked intersection of Westwood Boulevard + Olympic Boulevard, just south of Westwood Village and the UCLA campus. The center features a diverse tenant mix, anchored by the popular and long-running Big Chill (frozen yogurt store).

West LA iPhone Repair is a rapidly growing business that currently operates four locations throughout greater Los Angeles, and boasts plans continue its aggressive expansion.

“This is a fantastic West LA location near UCLA, with a strong tenant mix that includes the Big Chill, which is an iconic Westwood institution, and a huge consumer draw,” says Jason Ehrenpreis of the center’s prime Westwood location. “And this is rare smaller space in a center that also offers on-site parking – a real tough-to-find gem in West LA retail” Ehrenpreis adds noting the current difficulty many tenants face in sourcing smaller-sized retail locations on Los Angeles’ west side.

“iPhone, iPad and other gadget repair-type businesses have been rising steadily,” says CBM President, Rick Rivera. “We’ve been leasing to increasing numbers of tech-repair tenants in centers throughout the LA basin. And we expect to see more as greater numbers of people come to depend on smart phones and tablets in their daily lives,” Rivera suggests commenting on the rising tide retail property-based tech repair businesses.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201.